Binker at his best

The past couple of days around here have made it tricky to focus on some of the less glamorous aspects of governance, but you'll be glad to know that others haven't let up. In fact, Mark Binker's Capital Beat blog has one of his strongest stories in months. It's a good analysis that lays out some of the financial challenges the legislature may find itself facing this summer. In particular, Binker points to two paragraphs in the state's current economic projections that we all should be keeping in mind.

Clearly, a protracted and significant slowdown or recession will dampen expectations for revenue growth in FY 2008-09 and may mean that the tentative 4.6% growth rate will need to be lowered. Continued monitoring of both the credit crisis and the impact of rising food and gasoline prices on consumer spending and job growth is crucial.

Go read the whole story and then keep your fingers crossed that the disastrous economic policies of the Liddy Dole and George Bush don't trickle all the way down to undercut North Carolina's ability to stay on an even keel.